Oscar Mayer, the famous bacon brand has created a new cryptocurrency called bacoin. The company made the announcement on April 30, introducing the new coin.

Bacoin: The First Ever Bacon-backed Crypto

Bacoin is a promotional campaign cryptocurrency that is backed by real Oscar Mayer bacon. According to the company, the coin is as volatile as other cryptocurrencies.

Commenting on the launch, Matt Riezman, brand manager at Oscar Mayer said that:

Oscar Mayer is the gold standard of bacon because of our dedication to hand-selecting the best cuts and then naturally sugar-curing and naturally hardwood-smoking our bacon. Add to that our proven expertise in the bacon-tech space, [and] Bacoin is poised to deliciously revolutionize the cryptocurrency market.

The company partnered with Mcgarrybowen, a digital advertising firm to develop the campaign. Keith Sizzle, the famous “tech prophet” is a spokesperson for the project and appears in the promotional video sporting yellow hipster specs.

Mmmm… Bacoin…

The company is urging bacon lovers to register on the platform for a chance to receive bacoins. Participants can also influence the value of the coins by spreading the word on social media. Beginning from April 30, users can mine and track the price of bacoins. They can also cash out their bacoins for Oscar Mayer bacon. Fans have until May 14 to participate in the campaign.

At the time of writing this article, one bacoin = ten slices of Oscar Mayer bacon. The bacoin website provides hourly updates of the current bacoin value.

The Usual Oscar Mayer Sales Gimmick

The bacoin campaign is another entry in a list of colorful sales gimmicks by the company. The official press release states that the bacoin launch is a promotional gag. In 2014, the company introduced a campaign that turned users’ iPhones to bacon-scented alarm clocks. The company has also created other attention-grabbing sales campaigns such as the dating app for bacon aficionados and the drone bacon delivery service.

Gimmick or not, the Oscar Mayer campaign is another pointer to the disruptive potential of blockchain and cryptocurrency. Assets can be tokenized, issued on a blockchain, and if people buy into the idea, it can become a hit. Oscar Mayer is a subsidiary of Kraft Heinz, the food manufacturing behemoth.

Are you going to prepare your cold storage options for bacoin? Does cryptocurrency and blockchain technology have a place in corporate marketing? Please share your views in the comment section below.

The Localbitcoins markets of several nations have produced significant spikes in recent weeks, with the peer-to-peer (P2P) markets of Hungary, Peru, and Venezuela establishing new all-time highs for volume when measuring in trade in fiat currency.

P2P Markets of Latin America Surge

The P2P trading volume of numerous South American markets have shown considerable strength in recent weeks, with many markets producing among the strongest weeks of trading in recent history when measuring volume in fiat currency.

Peru set a new record for weekly volume for the second week in a row when measuring against fiat currency, with 1,944,396 PEN (nearly $600,000 USD) worth of bitcoin exchanging hands this past week – an approximately 14% increase from last week’s record of 1,705,992 PEN.

When measuring volume in BTC, the last two weeks both posted approximately 71 bitcoins – the second largest number of BTC traded in a single week for Peru’s P2P markets since the 80 bitcoins traded during the week of the 19th of December 2017.

The Brazilian Localbitcoins markets produced a spike in volume during the week of the 14th of April, with trade volume reaching 3,158,258 BRL (approximately $905,000 USD), comprising the third largest weekly volume candle in the history of Brazilian P2P trade.

Argentinian and Venezuelan Peer-to-Peer Markets Rally

Argentina’s P2P markets also rallied during the week of the 14th of April, spiking to comprise the fourth most traded week in the history of Argentinian Localbitcoins trade. The week of the 14th posted a trading volume of 4,506,932 (almost $220,000 USD).

When measuring volume in bitcoins, the 29 BTC traded during the 14th comprises the largest number of bitcoin traded in a single week since August 2017; however, it is dwarfed by the more than 150 BTC regularly traded on a weekly basis via Argentina’s P2P markets during 2015.

Venezuela’s Localbitcoins markets have produced a new record for weekly trade volume when measuring trade in Venezuelan Bolivars for the seventh time in eight weeks.

When measuring trade in bitcoins, volume has actually declined for two weeks in a row – despite both weeks producing new all-time volume highs when measuring in Bolivars.

Hungarian Localbitcoins Trade Produces New Volume Record

During the week of the 14th of April, Hungary’s P2P markets produced record trading volume of 7,473,600 HUF (approximately $28,800 USD). Despite comprising a record when measured in fiat currency, only 4 bitcoins changed hands during the week of the 14th of April – a relatively small weekly volume when compared to Hungarian P2P trade in 2015. Still, the 4 BTC was the most bitcoin traded in a single week since July 2017.

Swedish trading on Localbitcoins also surged during the week of the 14th of April, posting 14,189,350 SEK (approximately $1,618,600 USD) worth of trade – the fourth largest volume candle posted in the history of Sweden’s P2P markets. When measuring trade in BTC, the 231 bitcoins that exchanged hands is the highest in a single week since November 2017, however, is dwarfed by the volume consistently produced by the Swedish bitcoin markets between 2015 and 2016.

Canada’s P2P markets have continued to produce substantial trading volume – posting the third largest weekly volume candle of 7,784,463 CAD (almost $6,075,000 USD) this week. When measuring in BTC, this past week’s volume of 893 bitcoins is the third largest in history. The most recent four weeks of trade currently comprises the four largest weeks for Canadian Localbitcoins trading.

Do you trade using the P2P markets? Discuss your trading preferences in the comments section below!

A Japanese regulatory working group focussing on cryptocurrencies has suggested exchanges should not be “allowed” to trade certain altcoins including Dash and Monero.

FSA Suggests Altcoin Squeeze

As Forbes reports citing a meeting of the group, which consists of industry experts organized by Japan’s regulator the Financial Services Authority (FSA), the anonymity options such altcoins present could be grounds to banish them from the country’s burgeoning exchange sector.

“It should be seriously discussed as to whether any registered cryptocurrency exchange should be allowed to use such currencies,” an unnamed member said April 10.

Japan is pressing ahead with cryptocurrency exchange licensing after a cleanout of prospective applicants following Coincheck’s $530 million hack in January.

Some exchanges closed due to not being able to comply with requirements, while others were sanctioned due to insufficient security policies.

While major corporations are nonetheless lining up to enter the market, regulators now appear to be taking a more conservative stance on what that market should ultimately offer consumers.

Coincheck, which has faced strict FSA supervision since the hack, will no longer offer XMR trading, local news outlets reported last month.

Self-Regulation On The Horizon

While Japan once made headlines for being the world’s number one exchange venue by trade volume, most volume now passes through Malta, Bitcoinist reports, while the UK has the largest number of legally registered exchanges.

Meanwhile, those players who remain bullish about Japan’s future as a crypto trading hub continue to make strides in the regulatory sphere.

Last week, it was announced that a combined effort to create a self-regulatory body had finally got off the ground in the form of the Japanese Cryptocurrency Exchange Association (JCEA).

According to chairman Taizen Okuyama, who is also president and CEO of forex firm Money Partners, the cross-industry body will offer assistance to exchanges which have so far been unable to comply with the FSA.

“I would like to create a situation where I can give advice to [unlicensed exchanges] – the development of the industry as a whole is important,” he told local news outlet Asahi Shimbun April 24.

What do you think about the potential for certain altcoins to be dropped from Japanese exchanges? Let us know in the comments section below!

Ethereum price has been rising steadily during the past few days along the upwards trend line that has been evident since April 7th. $700 was repeatedly the day high on Saturday and Sunday. Repeated cycles of upwards price bursts followed by brief downwards price correction attempts have been evident on the 4 hour ETHUSD charts, since last Friday. However, the upwards trend line has been acting as a rising support level during the past few days. The market seems to be moving towards testing the resistance around $713.24 during the first few days of the upcoming week.

So, can we expect ethereum price to exceed $700 during Tuesday’s trading sessions?

Ichimoku Cloud just turned green on the 1 day ETHUSD chart:

We will examine the 1 day ETHUSD chart from Bitfinex, while plotting the 50 day SMA (green curve), the 100 day SMA (red curve), and the Ichimoku Cloud, as shown on the below chart. We will maintain the Fibonacci retracements we plotted during an earlier analysis, which extend between the low recorded on October 23rd, 2017 ($273.50), and the high recorded on January 13th, 2018 ($1,424.06). We can note the following:

During the past week, ethereum price has been recording higher highs during most of the days. However, on Saturday and Sunday, the day high was repeatedly $700, which reflects that the bullish momentum is somehow slowing down as we are approaching the resistance around the 61.8% Fibonacci retracement ($713.24) (the orange horizontal line on the above chart).

The rising uptrend line (bluish upwards sloping trend line on the above chart) is acting as a rising support level that is preventing the drop of the price of ether below its level. This is evidenced by the rising day lows during the past few days, and the relative long downwards shadows of candlesticks of Wednesday’s and Thursday’s trading sessions. As price continues moving along this uptrend line, ethereum price will most probably rise towards testing the resistance around $713.24 early during the upcoming week. As repeated testing of a resistance level weakens it, the resistance around the 61.8% Fib. retracement ($713.24) is likely to be broken if it is tested again during the next 24-48 hours.

Ethereum price is currently above the 50 day SMA, and the 100 day SMA. Moreover, the 50 day SMA is currently above the 100 day SMA, which reflects the current bullish sentiment of the market. The 50 day SMA acted as a support level that prevented further price drop during the trading sessions of last Wednesday and Thursday.

The Ichimoku Cloud has just turned green (bullish), and ethereum price is currently above the cloud. Moreover, the Conversion Line (blue line) is above the Base Line (red line), and ethereum price is above the level of the Base Line. All these bullish signals conveyed via the Ichimoku Cloud indicate that we can see the price of ether exceed $700 early during the upcoming week.

Rising support level evident on the 4 hour ETHUSD chart:

Now, let’s examine the 4 hour ETHUSD chart from Bitfinex, while plotting the 50 period SMA (green curve), the 100 period SMA (red curve) and the Bollinger Bands indicator, as shown on the below chart.

As the price of ether dropped near the level of the uptrend line, it became evident how this uptrend line is supporting price quite well, as shown by the formation of a “doji”, and the long downwards shadows of candlesticks.

A “bullish crossover” is now evident, as the 50 period SMA has crossed above the 100 period SMA.

Since last Thursday, repeated bouts, consisting of bullish bursts followed by downwards price correction attempts, have been evident on the chart. These repeated bouts have been supported by the upwards sloping trend line (greenish trend line on the chart). As such, the market is steadily moving towards retesting the resistance around $713.24 (orange horizontal line) early during this week.

Conclusion:

Ethereum price has been moving along an upwards trend line during the past few days. Even though the price of ether failed to exceed $700 during Saturday’s and Sunday’s trading sessions, we are most likely to see it move towards $713.24 during the next 24-48 hours.

At the beginning of 2018, I wrote an article outlining aNew Year’s resolutionthat I thought could help boost cryptocurrency adoption and awareness in 2018, as long as enough people were doing it. Last week was thefifteenth installmentof my challenge. After a few slower weeks for my challenge, I’m happy to say that this week was far more productive for me.

I’m going to change up the usual format of this series a little bit, but probably only for this one post. I had an interesting encounter recently that checked the boxes for all of my challenge goals. Story time!

A few days out of my week, I try to go to a coworking space to get some work done, and one of the building’s weekly networking events includes a spread of free snacks and wine. My interest was piqued! I realized that this was probably a great place to try to engage with more people on cryptocurrency and blockchain. Admittedly, the prospect of free wine was also a driving force (as it is for most writers). Almost immediately, I was able to start up a conversation with the woman in front of me in line. She was new to the building and asked what I did, and seemed intrigued by the idea of cryptocurrency. She was mostly interested in it as a potentially lucrative investment vehicle. Despite my attempts to steer the conversation to focus more on the technology, she was pretty dead-set on trying to get financial advice out of me. I told her the only advice I’d ever give was to never invest any money you can’t afford or are unwilling to lose.

Next, I spoke with a few of the building’s Community Managers. They are the points of contact for the space’s members and the event organizers. At events like these boozy and foody networking events, I do my best to stay on their good side (I know where my bread is buttered) and have tried to avoid annoying them with too much crypto-talk. However, two of the Community Managers were extremely receptive, and we spoke for about 30 minutes. I learned that for many, the hardest concept to grasp is the use case for cryptocurrency. This disconnect is understandable. With so many coins, so many projects, and so many “experts” all saying what crypto is good for and what crypto is not good for, the layperson can be left dumbfounded. So I started to show them some of the places I like to spend my cryptocurrency online.

While telling them how I’d just bought some plane tickets off cheapair.com with Dogecoin, I saw another educational opportunity for these two. “Do you two want some Dogecoin?” I asked. Both chuckled and said yes. I helped them set up their wallets, and sent them 500 Doge each. It wasn’t much, but they seemed pretty excited to have Dogecoin. “I feel like I’m part of a completely new culture! I’m in the crypto game now!” one said after the transaction was confirmed.

The Community Managers are going to plan a blockchain and cryptocurrency-specific happy hour networking event soon. I look forward to attending.

*

Are you challenging yourself with this resolution too? Do you have any good/random stories that resulted in great crypto-centered conversation? Tell us on Twitter or in the comments!

Circle is adding the privacy-focused cryptocurrency zcash to its list of offerings for its investment app, the startup announced Monday.

Users of the company's Circle Invest platform can now purchase and invest the cryptocurrency, the company explained in a new blog post. The token joins bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin as available currencies through the app.

"Our mission for Circle Invest is to democratize access to investing in crypto assets for every consumer. Making the wider breadth of assets available on Circle Invest will continue to be a part of this mission, and of course doing our best to ensure that we bring the crypto without the cryptic to everyone, anywhere," the startup wrote.

The investment app was first unveiled last year and debuted in March, as CoinDesk reported at the time. While it was initially excluded, residents of the U.S. state of New York can now access the app, according to the company. The other states - Minnesota, Wyoming and Hawaii - remain unavailable, according to Circle Invest senior product manager Rachel Mayer.

She told CoinDesk that "Circle has an established working group dedicated to finding the best crypto assets for our customers," but declined to say why zcash specifically was chosen.

However, tokens on the platform must be "consistent with our regulatory licensure," she explained.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

It may sound like baloney, but American meat maker Oscar Mayer has entered the cryptocurrency space - sort of.

The company announced on Monday the unveiling of "Bacoin," which it is calling "the first-ever cryptocurrency backed by the gold standard of Oscar Mayer Bacon."

With the initiative, Oscar Mayer is offering bacoins as a kind of incentive to get users promoting the brand's meat products on social media and email. Through the company's official website, users "mine" bacoins that become worth more - denominated by slices of bacon - as consumer awareness is increased. Accompanying the campaign is a new commercial pitching the bacoin.

Bacoins can then be cashed out by customers for real packs of bacon, according to the company. As of press time, the value of a single bacoin is worth three slices of the company's bacon, according to its official price tracker.

"Oscar Mayer is the gold standard of bacon because of our dedication to hand-selecting the best cuts and then naturally sugar curing and naturally hardwood smoking our bacon," the company's brand manager, Matt Riezman said in a statement.

With the move, the 130-year-old Oscar Mayer becomes the latest food company to jump on the cryptocurrency branding bandwagon. Back in January, KFC Canada launched a bitcoin-themed promotion that saw it selling a so-called "Bitcoin Bucket" to select customers.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Bitcoin is holding its ground at $9,300. The currency has been sitting at this mark for several days, and while the price hasn’t necessarily dropped, it hasn’t jumped forward either.

This suggests that bitcoin is encountering newfound resistance at its present level, and perhaps $10,000 is not as close as we originally thought. Though support remains relatively firm at the current price, bitcoin could potentially experience spikes to $11,700 and even $12,000 respectively granted it is able to move above the $9,500 mark. Once this resistance is broken, we may witness bitcoin firing forward at a rapid rate.

The upside is that bitcoin has reached its highest position since mid-March, when the price jumped slightly beyond $9,700. For the most part, bitcoin is retaining its bullish bias, though analysts suggest that “reduced crypto market volatility” is keeping bitcoin locked in place for the time being.

In addition, recent comments made by billionaire Warren Buffett regarding bitcoin and cryptocurrency in general may be another potential reason behind its unwillingness to climb higher.

Buffett has never been a large advocate for bitcoin. In fact, he has been relatively critical of it, citing it as a figure of pure speculation and rejecting the notion that it could ever hold physical worth of any kind.

Buffett recently stated:

“There are two kinds of items that people buy and think they’re investing in. One really is investing and the other one (bitcoin) isn’t. If you buy something like a farm, an apartment house or an interest in a business, you can do that on a private basis, and it’s a perfectly satisfactory investment. You look at the investment itself to deliver the return to you. Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything. You’re just hoping the next guy pays more. You aren’t investing when you do that. You’re speculating. There’s nothing wrong with it; if you want to gamble, somebody else will come along and pay more money tomorrow. That’s one kind of game, but that is not investing.”

It is true that Warren Buffett and other top financial figures continue to remain skeptical of bitcoin’s prowess and advantages, but many analysts remain insistent that another bull run is right around the corner, citing the number of bitcoins already mined as a major reason.

Bitcoin’s total market cap is 21 million coins. At press time, less than four million non-extracted coins remain. The fewer coins in existence, the harder the mining process becomes. The final bitcoin is expected to be mined sometime in the year 2140 – more than 100 years from now.

It is a long time to wait, but putting this into context, we realize it has taken just over nine years to extract the original 17 million, and with this scarcity becoming a stronger reality every day, many experts believe the price of bitcoin will go up even further, as older coins become more difficult to gather. Many current bitcoin holders are expected to keep a tight grip on their coins and avoid cashing out in the hope they could potentially witness their earnings increase tenfold in the next three to five years alone.

Cryptocurrency trades surge in Malta, making the tiny nation a predominant leader in the field, surpassing countries like Japan, Korea, China, and the USA. A research carried out by Morgan Stanely also shows that Belize is second to the lead.

Malta, the New Leader in Crypto Trading Volume

The winds of change are blowing strong as Malta becomes the global leader in terms of cryptocurrency trading volume. In a research factoring the legal location of exchange, Morgan Stanely reveals that the small nation has established itself not only as a leader but as an obvious preference for crypto trading.

The country surpasses large players as Japan, Korea, China, the US, and Belize dramatically, leaving no room for arguments.

The Tides are Turning

Malta has become a strong advocate for the crypto community, openly welcoming companies in the field to host their operations within its borders. It seems that it’s that proactive, positive approach that has managed to turn the tiny nation into the most prominent player in the field when it comes to cryptocurrency trading volumes.

A research conducted by Investment Bank Morgan Stanely reveals that the company has not only topped but it’s in a serious lead ahead of former leaders such as China and the US. As a matter of fact, the research reveals a definitive change of heart in the field, as Belize takes the second place right behind Malta.

A Key Factor to be Considered

Morgan Stanley has based its research on the trading volume flowing through the exchanges which are registered in the respective countries. However, it’s also mentioned that the research holds that Malta hosts Binance, while Belize hosts OKEx.

Even though Binance is technically still registered in Hong Kong, it has already announced that it’s officially moving to Malta. OKEx, which is currently the third largest exchange, has also expressed its plans to do the same.

Binance said that it was moving away from Asia (currently registered in Hong Kong) due to more stringent regulation, especially from Japan. The third-largest exchange, OKEx, also recently announced that it was opening an office in Malta as the government markets itself as “Blockchain Island.” – Morgan Stanley analyst Sheena Shah says.

It’s also worth noting that “Malta would be much further down the list” according to Shah, if it wasn’t for Binance. However, Malta is continuing with its pro-crypto approach, which suggests that more companies are likely to follow.

By means of trading volume, Hong Kong occupies the 7th place, after the British Virgin Islands, Korea, and the US, leaving the top spots for Belize and Malta.

Another Look

Morgan Stanley also reveals another interesting statistic which shows the number of cryptocurrency exchanges registered in each country.

UK heads the chart with over 20 exchanges registered there. However, the country accounts for about 1% of the total trading volume. Hong Kong is second on the list, with 15 exchanges being registered there.

Where’s Malta? Well, it’s not even on that chart. This goes to further attest to the huge progress Malta has done in the field in the last few months.

The reasons for this are more than obvious – regulations. While countries such as the US, India, and China are tightening the regulatory frameworks in a rather restrictive manner, other such as Malta, Gibraltar, and Switzerland are doing so by adopting rather stimulating policies.

Do you think Malta will continue leading the cryptocurrency trading market? Please let us know in the comments below!

Bitcoin is a bubble! Bitcoin is a scam! Bitcoin is a Ponzi scheme! Bitcoin will crash soon! How many times have you heard these and similar comments from people who seem completely convinced they are right? Too many times, right? Well, me too. Bitcoin, and by extension the whole cryptocurrency industry, has been described as the biggest bubble in recorded history by more people than we care to remember. Such statements are particularly bold considering that there have been some huge bubbles over the years, such as the Dutch tulip bubble of the 1630s, the Japanese real estate and stock market bubble of the 1980s, and the more recent dot-com bubble of the early 2000s. Will all these doubters become convinced that Bitcoin and the blockchain are here to stay and that ‘a bubble’ is the one thing it’s not?

Investment Titans To Tech Pioneers

When someone on Twitter comes out and condemns cryptocurrencies, or someone rants on Facebook about how it’s all about to come down before the year ends, we tend not to take them seriously. After all, which revolution ever garnered everyone’s support? We do our best to correct them and to enlighten them about the revolution that cryptos are part of, but that’s as far as it goes.

However, when one of the richest men calls Bitcoin a scam, it’s a different reaction altogether. Warren Buffet has been among the most vocal opponents of cryptocurrencies. Just recently, in an interview with Yahoo Finance, Buffet described cryptocurrencies as a game and a gamble, and interestingly added that “no one knows exactly what Bitcoin is.” This is not the first time Buffet has openly condemned cryptos; in the past, he’s referred to them as scams and the biggest bubble in history. In another interview earlier this year, he declared that he was certain that cryptos would come to a bad end. The most interesting part of that particular interview, which was conducted by CNBC, was when Buffet admitted to not knowing much about cryptos.

Buffet is not alone in condemning cryptos. Less than a week ago, former PayPal CEO Bill Harris described Bitcoin as the biggest scam in history. In a blog post, Harris, who was also one of the founders of PayPal, described Bitcoin as a colossal pump and dump scheme, “the likes of which the world has never seen.” His sentiments are echoed by Jeffrey Robinson, a renowned journalist whose book, “BitCon”, was intended to discredit Bitcoin as far back as 2014. In his book, Robinson described Bitcoin as a pretend currency which has no real use and which won’t be accepted by the masses. That was back in 2014 when the price of Bitcoin was below $1,000 and when not many people in the world had embraced cryptos. Robinson is, however, unmoved, and in an interview earlier this year with CNBC, he called Bitcoin a loaded roulette wheel.

You’re better off in Vegas. The food is better.

Institutional Condemnation

The condemnation has not been left to prominent individuals alone. Some major global institutions have also made their stands against cryptos known, one of which is the Bank for International Settlements (BIS). BIS, which facilitates international monetary and financial cooperation, came out and condemned cryptos as a “combination of a bubble, a Ponzi scheme and an environmental disaster.” Its general manager, who doubles as the governor of the Bank of Mexico, questioned the sustainability of cryptos and called on authorities to clamp down on the crypto industry.

Munich-based global investment giant Allianz, which has over $81 billion worth of investment, has come out and condemned cryptos as well. Its head of strategy described cryptos as a bubble, saying that despite their liquidity, they lack intrinsic value. The firm went on to state that Bitcoin’s demise would have a negligible spillover effect on the ‘real world’, as the market capitalization of cryptos is still relatively small.

Japan’s Financial Services Agency, tasked with monitoring the country’s cryptocurrency exchanges, has quietly been pressuring platforms to delist privacy coins. Coincheck has already done so in the wake of the $400 million NEM hack. If fellow exchanges follow suit, it could signal the beginning of the end for privacy coins such as zcash and monero on Japanese and possibly even global exchanges.

FSA Gives Privacy Coins the Thumbs Down

Japan’s FSA is reportedly urging exchanges to move away from privacy coins, which it associates with money laundering, drug dealing and other nefarious activities. Coins such as monero, zcash, and dash all fall into this category, even though the latter two provide opt-in privacy only, a feature that most users don’t enable. Forbesreportssources close to the FSA as confirming that the regulator is clamping down on anonymous currencies because they are difficult to trace.

The news, while not surprising, is nevertheless concerning. Many of crypto’s most passionate advocates were attracted to the technology in the first place for its ability to provide a measure of anonymity on an increasingly surveilled and privacy-free internet. Without optional anonymity, or at least pseudonymity, cryptocurrencies lose much of their appeal, and individuals lose their right to send payment to their peers without broadcasting their intentions to the world.

“Problematic” Monero Gets the Heave-Ho

If there’s one privacy coin that unites global lawmakers and regulators in their condemnation, it’s monero. At a meeting on April 10, Forbes reports that “Monero and Dash were both mentioned as highly problematic virtual currencies”. If true, the FSA appears to view privacy coins the way law enforcement forces view encryption: they don’t like it because it works – all of the time, and for all the people, be they good or bad.

In response to this news, monero lead developer Riccardo Spagni tweeted a popular anti-censorship quote:

The jocular “Fluffypony” has a point. Japan’s crackdown on privacy coins could be the thin end of the wedge, presaging a global ban enforced by compliant exchanges. This isn’t as far-fetched as it might sound. It’s already widely assumed, for example, that Coinbase will never list a privacy coin for fear of irking the regulators it has spent years cozying up to. While no exchange wants to be accused of complicity in criminality, Coinbase has a particular aversion to anything that could be remotely associated with vice – which, rightly or wrongly, means any coin with privacy built in.

Due to its dominant position in the cryptoconomy, where Japan leads other nations tend to follow. If privacy coins were to be delisted, first in Japan, and then globally, it risks creating a two-state crypto economy: one highway for the compliant, regulated and fully KYC’d, and a darker lane for the privacy lovers, who buy they coins on unregulated exchanges and are tarred with the same brush as terrorists and money launderers.

Do you think privacy coins are in danger of being delisted en masse by global exchanges? Let us know in the comments section below.

Technology pioneers have been showing an interest inblockchain technology and cryptocurrency for quite some time now. Especially for pioneers active in the coding world, the concept of cryptocurrency is rather intriguing. Alphabet’s Sergey Brin recently mentioned Ethereum in a positive light. This took a few people by surprise, although most of his comments revolved around artificial intelligence.

Sergey Brin and Ethereum

As is usually the case when a famous technology pioneer references cryptocurrency, there is a fair bit of surprise and confusion to contend with. In the case of Alphabet president Sergey Brin, his recent comments regarding Ethereum shocked a lot of people. Not because they were negative, but mainly because he sees the bright side of cryptocurrency in general. It is quite uncommon to hear someone think along those lines these days.

To put this into perspective, Sergey Brin recently talked about cryptocurrency and artificial intelligence. In issuing Alphabet’s annual founders’ letter, Brin highlighted two emerging trends which are of great importance to him personally. Brin has mixed feelings about AI, which is not entirely surprising. Cryptocurrency, on the other hand, gets a rather big vote of confidence from Brin, although it will not have any impact on the Ethereum price.

Brinreferencedthe effect cryptocurrencies have had on the computing industry and in general. Specifically, he mentioned the “GPU-friendly proof-of-work algorithms found in some of today’s leading cryptocurrencies, such as Ethereum.” This particular algorithm is one of the reasons why the demand for more powerful graphics cards has risen so sharply in the past few months. Mining cryptocurrency has become a booming industry, but the demand for GPUs to mine Ethereum may drop off if the price remains on the relatively low end of the spectrum.

While the public’s opinion on cryptocurrency is still all over the place, one cannot deny the impact it has had on the computing industry. Currencies such asEthereumhave shown the world how things can be done differently and how one could empower such ecosystems. That in itself is an unexpected advancement in the world of computing, and one which might not have been triggered by any other technology. According to Brin, that is a positive development, even though a lot of people remain wary of cryptocurrencies, for obvious reasons.

How Ethereum and other cryptocurrencies will affect the future of computing as a whole remains to be seen, but Ethereum has shown the world that GPU-friendly proof-of-work algorithms can exist without too many problems. Now that Ethereum mining ASICs have come around, it will be interesting to see if any modifications are made to this algorithm.

We do know that Ethereum’s developers are planning a switch to proof-of-stake in the very near future. When that will happen remains a bit unclear, althoughCasperis coming together nicely as we speak. It is evident GPU mining will come to a halt where Ethereum is concerned, but that doesn’t have to be a bad thing. It is good to see technology pioneers such as Sergey Brin acknowledge that cryptocurrencies have a positive side which most people tend to overlook for no apparent reason.

The initial coin offering (ICO) ecosystem is what the wider securities marketplace would look like without regulation, a Securities and Exchange Commission (SEC) commissioner said Monday.

Speaking to CNBC, commissioner Robert Jackson made the comparison when talking about the agency's role in regulating cryptocurrencies and ICO-derived tokens - and the prospect of tighter controls in the market.

"If you want to know what our markets would look like with no securities regulation, what it would look like if the SEC didn't do its job? The answer is the ICO market," he told the network.

Jackson notably remarked that "what I'll say about bitcoin, in general, is that space has been full of troubling developments," going on to say:

"Investors are having a hard time telling the difference between investments and fraud."

Like SEC chairman Jay Clayton, Jackson said he has not yet seen an ICO token which does not look like a security.

Later in the interview, Jackson said that while the SEC is largely limiting itself to seeking enforcement actions against illegal activities in the market at present, the agency might step up its regulation of the space more broadly in the future.

"We are right now focused on protecting investors who are getting hurt in this market and down the road, we will be thinking about, I think we should be thinking about ways to make those investments work with our securities laws," he said.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

The Federal Trade Commission (FTC) is planning to host a workshop on cryptocurrency scams and fraud in June.

The agency announced on Monday that its "Decrypting Cryptocurrency Scams" workshop will feature stakeholders from law enforcement, consumer advocacy groups and private-sector businesses "to explore how scammers are exploiting public interest in cryptocurrencies such as bitcoin and litecoin and to discuss ways to empower and protect consumers."

The event is being hosted in Chicago on June 25 at DePaul University. The session, which is free to the public, begins at 1 p.m. local time, and will also be broadcast live on the FTC's website that day.

"Reported scams include deceptive investment and business opportunities, bait-and-switch schemes, and deceptively marketed mining machines. The FTC has continued its efforts to educate consumers about cryptocurrencies and hold fraudsters accountable," the FTC said in a statement.

It's an area that the agency has focused on with greater frequency in past months, as evidenced by its moves in the space to date. Last month, for example, lawyers for the FTC obtained a restraining order against four investment organizers based in Florida that the agency said were promoting cryptocurrency-related scams.

"This case shows that scammers always find new ways to market old schemes, which is why the FTC will remain vigilant regardless of the platform - or currency used," Tom Pahl, acting director of the FTC Bureau of Consumer Protection, said at the time.

Image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Roger Ver, founder of Bitcoin.com, and Mate Tokay join the advisory board of BlockChainWarehouse (BCW). To bring their insight and resources to help grow BCW and the companies that move through its’ accelerator program.

BlockChainWarehouse is an accelerator that helps take companies from an idea to their Token Sale. While providing legal counsel, access to expert advisors, marketing services, token sale platforms and aid with KYC/AML compliance. They want to change the way the world thinks about Blockchain, by ushering in a new era of companies adhering to a higher quality standard than the typical ICO.

Companies submit their idea on the BCW website and are automatically vetted through their proprietary valuation algorithm. After determining where the companies need support, BCW organizes and maintains all the necessities for the TGE, including driving interest to the TGE itself.

BCW has built a top-tier Board of Advisors: with the likes of Peter Levchenko (Megalodon Capital), Brian Kang (FactBlock), and now—Roger Ver and Mate Tokay. Towards the goal of bringing insight from the best and brightest in Blockchain to its clients.

Adrian Guttridge, CEO of BCW, expresses his excitement about the partnership with Ver and Tokay, “I am delighted that Roger and Mate have chosen to join BlockChainWarehouse as advisors. I know they have many many projects to choose from, and so it is fantastic that they recognize the value that we can bring to this marketplace, a market that is evolving at warp speed”.

BlockChainWarehouse has already helped generate $$$ millions for its clients and has several Token Sales launching throughout 2018.

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Various Asian countries have taken a harsh stance against initial coin offerings. Given the previously unregulated nature of that industry and the large sums being raised by ICO teams, that is not a big surprise. It seems one South Korean company is trying to have a positive impact on the sector. The Korea M&A Center is launching a new platform meant to protect ICO investors.

A Positive ICO Development in South Korea

No one will deny the role of importance which South Koreaplays in the world of cryptocurrency. After China banned CNY trading, South Korea was fairly quick to take its place in the fiat currency trading department. That was a rather interesting development, and one that has also caused some regulatory challenges in the region. Particularly when it comes to initial coin offerings, things have gone from bad to worse fairly quickly.

Several months ago, it became clear that South Korea’s FSA did not take kindly to ICOs and ICO-related products. As such, many people expected initial coin offerings to be completely banned in the country, even though that is not exactly what has happened. There is still a lot of unease when it comes to embracing this business model in South Korea, but that situation may come to change fairly soon.

That’s because the Korea M&A Center has made it clear they are working on a newpatented platformto protect ICO investors. That is a rather surprising turn of events, although it also has a lot of merit. More specifically, their ESC Lock service offers an escrow system similar to those found in traditional financial markets, but tailored to initial coin offerings. The end result is that investments will be locked, as will be the ICO tokens issued by the companies in question.

That’s a very different take on initial coin offerings, and one that could bring a lot of legitimacy to this particular industry. With various ICO scams having been recorded in recent history, it is evident something will need to change where ICOs are concerned. Moreover, there is an alarmingly high rate of projects failing to reach commercialization, which doesn’t bode well for investors either. ESC Lock should be able to address all of those issues, as investors need to be protected.

ESC Lock will only deposit investments in ICOcompanies if certain conditions are met. Any company failing to live up to these expectations will not receive any funding, and investors will simply get their money back. This will put a lot of pressure on ICO projects to actually deliver the goods, and will hopefully weed out the bad seeds altogether. It is a positive development for the industry, albeit one that will remain limited to South Korea, for the time being. Of course, one could argue that ICO investors simply need to conduct their own research first and foremost. That would certainly solve a lot of problems, though companies may still not be able to enter the commercialization stage.

Tkeycoin DAO is a decentralized global ecosystem meant for civil society, with the goal of facilitating social and economic relations within its network of mutual assistance and solidarity – but why should you care? Here are three reasons why.

It Makes the Market Accessible

The team at Tkeycoin took an economic and scientific approach to the cryptocurrency market — mixing the best aspects of Bitcoin, Ethereum, DASH, and other digital currencies with the best real-world experiences from heavy hitters like IBM and Microsoft.

With this approach, Tkeycoin aims to make the cryptocurrency market as widely available as possible. In order to achieve this, the project’s cryptocurrency aims to become a widely accepted payment by taking on all of the properties of traditional fiat currency. As such, users will be able to make both online and offline payments anywhere traditional credit cards are accepted — such as in shops, restaurants, public institutions, etc.

Tkeycoin may effectively eliminate the need for cash by creating a balanced ecosystem which better suits both cryptocurrencies and society at large.

By “lightning fast,” we mean that Tkeycoin’s blockchain is capable of processing 500,000 transactions per second, thanks to the use of an advanced mechanism for tracing circuits and algorithms of artificial intelligence. Essentially, this allows for the system to use parallel chains when the maximum transaction rate is reached — creating interconnected branches of the same block structure.

Privacy-concerned users may also take advantage of the TBP Protocol, which allows for both verified and anonymous transactions. As such, Tkeycoin is perfect for use at the governmental and corporate levels.

A Robust International Marketplace and Freelance Exchange

A cryptocurrency is nothing without a productive use case. For Tkeycoin, that means building a productive economy with a cycle of use of goods and services on both the local and global levels. Providing an international marketplace will effectively bring together thousands, if not millions, of sellers and manufacturers from anywhere in the world.

Sellers’ histories are recorded in a decentralized magazine, and the Tkeycoin system features the implementation of a verification protocol, which ensures that ratings are verified, transparent, and fair. Only users who made a purchase may leave feedback on an individual store, and business accounts likewise may only rate users who made purchases. Reviews are stored for three years — promoting proper business practices and behavior.

There is also a freelance exchange, which is beneficial to both users and business owners. Users may act as freelancers and contribute to the system while receiving payment in Tkeycoin (TCD) cryptocurrency. In return, businesses receive a wide variety of services for their development.

Finally, on the subject of Tkeycoins, holders are able to mine coins from 3000 TCD. Users freeze their amount and do not use it. Therefore, most coins will be stored in the system. This means that large amounts will not be exchanged into fiat currencies. A good investor understands that it is possible to freeze some of their savings to get a constant percentage of production. There are no other ways to get coins.

For more information about Tkeycoin please visit tkeycoin.com and be sure to download the project whitepaper (available in 9 languages). You can also stay up to date on the latest developments on Twitter, Telegram, Medium, and Vkontakte.

What do you think of Tkeycoin DAO’s global ecosystem of mutual assistance and solidarity? Do you think it’s a worthy investment? Let us know in the comments below!

An innovative decentralized marketing ecosystem called VEXANIUM, which helps to cut costs and improve efficiency and transparency for commercial businesses, is being launched by Danny Baskara – a Southeast Asia based e-commerce pioneer and team.

Founder and CEO Danny Baskara previously built and sold Indonesia’s largest voucher and couponing platform Evoucher, which was with more than 2 million active users. After 7 years of building Evoucher, he realized that the blockchain can solve the fundamental problems of this industry. The idea for the VEXANIUM ecosystem was born.

The blockchain based ecosystem which VEXANIUM creates will solve the major pain points that this industry faces today. In Asia, a majority of retailers use online promo marketing platforms such as Groupon, Dianping or Meituan to win new customers. Promo marketing strategies rely heavily on campaigns on these platforms which provide substantial traffic and sales.

These platforms charge an average of 15% – 20% in commission per transaction through a CPA (Cost Per Acquisition) or CPS (Cost Per Sale) structure. An increasing number of retailers struggle because these commissions, together with the discounts offered, represent too high a proportion of their margins. To protect margins, retailers often end up giving lackluster promotions that are either unattractive or with unrealistic terms.

Meanwhile, customers are often frustrated when trying to utilize a voucher or redeem their gift cards and coupons. Common difficulties include using vouchers that have already been utilized, expired, are lost or with unreasonable T&C requirements.

Baskara says:

By using the VEXANIUM platform, companies can create points in loyalty program applications in the form of digital tokens. […] Typically such incentives are rewards to customers in Cost Per Acquisition (CPA) activity. The tokens can also be converted into coupons or points that can be used in corporate applications.

A study conducted by GfK concluded that 49% of consumers would gladly switch brands for savings in the form of a coupon. In the retail market, South-East Asia and Indonesia, in particular, are some of the fastest growing markets globally, with the latter boasting a population of over 260 million people. The importance of vouchers and coupons for retailers to attract new customers in those regions is significant.

VEXANIUM will revolutionize this space by bringing the voucher and couponing industry on-chain. The VEXANIUM platform will also naturally serve existing blockchain businesses in their user acquisition, activation and retention. This makes it attractive for both businessmen, crypto-enthusiasts and ordinary users.

The VEX app features an integration with selected crypto exchanges in order to allow users to directly trade their VEX token balance on the exchange. Also, the VEX Exchange will allow consumers to trade vouchers among themselves and set their own prices. Customers will be able to store and redeem their voucher tokens via VEXANIUM app.

One game-changing use case of the VEX Platform is the lucrative “airdrop” market, which will allow blockchain companies to create airdrop campaigns for acquiring new customers and rewarding existing ones, using the VEX token.

As Baskara states:

For companies that want to take advantage of the VEXANIUM platform and want to create digital tokens on their applications are required to purchase a large number of VEXANIUM digital tokens -VEX, because each transaction is using the VEX token. It’s part of VEXANIUM ecosystem.

This will be facilitated via the VEX web and mobile apps.

In an exciting move, the VEXANIUM marketplace plans to be fully functional and open to merchants and individual users in Indonesia by Q4 2018. The company will complete the establishment of the ecosystem by launching VEXchange and VEXplorer by Q2 2019. Merchants and enterprise users can create voucher tokens and start their marketing campaigns all seamlessly via the one-stop mobile app.

The company plans to launch in other major cities in Asia, including Kuala Lumpur, Ho Chi Min City, Seoul, Hong Kong, Bangkok and Dubai in 2019. And will then expand to big business hubs outside of Asia in 2020.

VEXANIUM’s Co-founder Robin Jang is also the Co-founder of Coinone Indonesia, the major South Korea cryptocurrency exchange that just launched their Indonesia chapter recently. Prior to joining VEXANIUM, he was the Co-founder of Cashtree, the largest online marketing platform in Indonesia and managed the company to achieve over 10 million users. A number of angel investors are already backing VEXANIUM, such as Marcus Yeung, founder and CEO of SEAbridge, and Joseph Aditya, CEO of Ralali, the largest B2B marketplace portal in Indonesia.

The immutability, liquidity and decentralized nature of VEXANIUM will revolutionize this market while introducing a whole new wave of retailers and users to the blockchain era.

Capital gains taxes and cryptocurrency have always been an odd couple. Although a lot of people see the merit in proper taxation guidelines for cryptocurrency, things are never as clear-cut as they might appear. In France, a new proposal has been introduced to reduce the capital gains tax on Bitcoin from 45% to 19%. It’s a positive development,asa lower flat rate simply makes a lot more sense.

France Reduces Bitcoin Capital Gains Tax by 60%

Anyone who currently deals with Bitcoin for speculative or professional reasons in France will pay acapital gains taxon their profits. That’s been the situation for quite some time now. The original regulation dates back to July 2014, and it has not seen any major changes since that time. This is not to the liking of local cryptocurrency users, as paying a 49% capital gains tax seems crazy.

Changing this rule has been an ongoing battle, although major success has been achieved. French sourcesreport that the Council of State will reduce the capital gains tax on Bitcoin and other cryptocurrencies. That is a very positive development, even though the flat fee concept will remain in place. With the tax rate dropping from 45% all the way to 19%, a very positive change has been introduced by French officials.

Although this still means French cryptocurrency enthusiasts will lose one-fifth of their profits, it is better than giving up almost half of them. Any gains from the sale of cryptocurrency are now considered to be industrial and commercial profits if these sales occur regularly. For users who only sporadically sell cryptocurrencies, the earnings will be labeled as non-commercial profits.

It is important to note that the Council of State is now putting the sale of cryptocurrency on the same level as that of movable property. The movable property designation usually applies to more tangible assets, such as jewelry, cars, and so forth. However, it also applies to intangible goods, such as patents, copyrights, and now cryptocurrencies. With the flat fee of 19% now applying to all of these products and assets, a more lenient ecosystem has been created which may allow cryptocurrencies to thrive in the years to come.

It is possible that there will be exceptions to this tax ruling. That’s because the Council of State acknowledges that certain “circumstances specific to the transactions” could cause this tax rate to change. It all depends on the type of trading activity, the amount involved, and the origin of the cryptocurrency in question. Any gains not considered the result of an investment transaction will always be considered to be industrial and commercial profits, even if it is a one-off transaction.

This latter point could have big consequences for people who mine Bitcoin. As mining is not related to investment, it is only normal that it would be considered commercial profit first and foremost. Any income from a professional activity – such as freelancers being paid in Bitcoin – will also fall into that category, which is no big surprise either. All things considered, this new regulation is rather positive for the cryptocurrency industry in general.

"Oracle of Omaha" Warren Buffett, whose aphorisms and advice many investors take as gospel, has laid into bitcoin, saying it's a gamble, not an investment.

The Berkshire Hathaway chairman and CEO - and the world's third-wealthiest person, according to Forbes - has long been skeptical of bitcoin. In his latest comments on the subject, he told Yahoo Finance on Saturday, "If you buy something like bitcoin or some cryptocurrency, you don't really have anything that has produced anything. You're just hoping the next guy pays more."

He continued:

"There's nothing wrong with it. If you wanna gamble somebody else will come along and pay more money tomorrow, that's one kind of game. That is not investing."

Buffett bought Berkshire Hathaway, a struggling textile mill, in the early 1960s and turned it into one of the world's most successful investment vehicles. According to his most recent letter to shareholders, the firm's share price has increased by 2.4 million percent since the takeover, compared to 15,500 percent for the broad stock market.

That success has been attributed to a strategy of buying strong firms with business models that are simple to understand and difficult to disrupt. That philosophy has led Buffet to be skeptical of the technology sector and of bitcoin in particular, which he called a "mirage" in March 2014.

Bitcoin was trading at around $600 when Buffett made that comment. In January, when the price was around $14,000, Buffett doubled down, saying cryptocurrencies "will come to a bad ending." The cryptocurrency's price is close to $9,300 at the time of writing.

One of Buffett's most famous quotes is "our ideal holding period is forever." In Saturday's comments, he further criticized bitcoin, arguing its value is too dependent on trading.

"Now if you ban trading in farms, you can still buy farms and have a perfectly decent investment," he said, but if trading in bitcoin was banned, people would have no reason to invest.

He did not address the bitcoin "hodler" movement, whose advocates urge investors never to sell.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Announced Monday, Nexo provides loans or extends a line of credit using its own assets, said managing partner Antoni Trenchev. To that end, the startup raised $50 million from investors, which will be used to provide liquidity to the company's platform. This departs from existing crypto-backed lending solutions, which instead connect borrowers with other individuals willing to loan out their funds.

This structure allows Nexo to provide instant loans without requiring credit checks or the time delay that manual approval processes require, Trenchev said.

The startup, which was spun off from European fintech firm Credissimo, has also partnered with blockchain security firm BitGo, which acts as its custodian, Trenchev told CoinDesk. Further, the company is now looking to team up with a small Federal Deposit Insurance Corporation bank to store assets.

He added:

"All of the software, all of the automation process is something we have developed ourselves, and most of the tools, we have used them for several years. All of our software and automation process are [use by Credissimo]. ... We have developed our own models of insuring and protecting our business."

Notably, the company is backed and advised by TechCrunch founder Michael Arrington, who told CoinDesk that he is one of the startup's financial backers.

Nexo is acting similarly to a bank with its lending model, according to Arrington.

"I haven't seen anyone do a good job so far of providing liquidity for people who have cryptocurrencies without forcing them to sell the cryptocurrency, or to put it more succinctly, provide a proper credit line to people who own cryptocurrencies," he said.

Trenchev said Nexo wants to set a precedent for traditional financial institutions, namely banks, and prove that cryptocurrencies can be trusted as an asset.

"If you look at the trend with cryptocurrencies, volatility is going down, it's still very volatile ... [but] we are pretty confident that volatility is on a downward trend and will continue to do so, which will make our model even more robust than it is," he said.

Ultimately, Trenchev concluded, Nexo's benefit comes from the fact that it lets clients "spend the value of [their] crypto without having to spend it."

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.